Marc Faber : The Dow low at 1010 may actually hold

“You can talk all day long about the good economic numbers that came out …but you also have to look at a 10-year treasury yield that’s below 3 percent and some economic signs that really aren’t that good,” Joe Clark, founder and CIO of Financial Enhancement, told CNBC, when asked if he felt we're in a bull or bear market.
Marc Faber : well basically my view is this , the market if it goes to below 1000 , we all , you as employees of CNBC and I would not have a job we will have other problems in this world most banks will be bust , the government will be bust and your deposit will not be worth very much ...so if it goes to 1000 actually you may be better off being in shares than in bonds than in government bonds and bank deposits , secondly i am outlining in that report that I do not below we will go to 1000 , i think that massive quantitative easing will come between say 870 to 950 on the S&P and my inclination is to believe that the July first low at 1010 will actually hold , and that the worst the economy becomes the more they'll print money and the more equities can go up ...that is my view I am ultra bearish about everything but in this scenario of being ultra bearish about everything you probably can be better off in equities in the long run than in bonds and in cash ....